Bookkeeping

This is despite the fact that many of these jobs, whether they were in management or trades, paid similar wages. Blue collar workers were often 
Read more
Each journal entry is transferred from the general journal to the corresponding T-account. The debits are always transferred to the left side and the credits 
Read more
It is also used by government agencies to prevent organizations from abusing their tax-exempt status. Some nonprofits, such as hospitals and other healthcare organizations, have 
Read more
Because you are often quoting not only the cost of your product but also the transportation cost, a reasonable time should be allowed for the 
Read more
Now that you understand the GL and how it’s used, let’s look at how to create a trial balance. In summary, an accounting transaction is 
Read more
Recall that with the LIFO method, there is a low quality of balance sheet valuation. Therefore, the balance sheet may contain outdated costs that are 
Read more
Recall that with the LIFO method, there is a low quality of balance sheet valuation. Therefore, the balance sheet may contain outdated costs that are 
Read more
ACH debit transactions involve ACH transfers where funds are pulled from a bank account. That is, the payer, or customer gives the payee permission to complete payments 
Read more
The initial escrow payment is the money deposited with the lender which will be used to pay future homeowners insurance and property taxes. Look at 
Read more
If your expenses for December had exceeded your revenue, you would have a net loss. When closing expenses, you should list them individually as they 
Read more